For landlords a feast in Auckland, famine elsewhere

The figures show supply outstripped demand everywhere but Auckland over the last quarter, where the Trade Me head of property Brendon Skipper said the lack of new building was helping drive up rents.

"Anyone who has been reading media coverage in recent months knows Auckland is tough if you're looking for a place to rent at the moment. Average weekly rent across the city is up 7% on a year ago, and it's inevitable that will continue to rise if demand stays crazy and supply stays low."

In Wellington rents were down 2% and there were 17% more rental properties on the market than a year ago - and fewer people wanting them.

"Over the past three months in cities like Tauranga, Dunedin, Hamilton and Wellington we've seen the number of properties up for rent outstripping demand from prospective tenants," Skipper said.